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Financial & Banking
SIGNAL IDUNA receives ASF approval for the acquisition of the majority stake in Garanta Asigurari
Monday, June 23, 2025
SIGNAL IDUNA ASIGURARE REASIGURARE announces that final approval has been received from the Financial Supervisory Authority (ASF) for the acquisition of the majority stake in Garanta Asigurari, owned by The Ethniki, Hellenic General Insurance Company, the leading composite insurer in Greece. This transaction marks a key milestone for SIGNAL IDUNA, as the company continues its expansion strategy on the ...
Management updates at Revolut Bank UAB Romanian branch
Monday, June 23, 2025
Revolut, licensed bank and financial investment company with over 55 million customers globally, announced new developments in the team of the Revolut Bank UAB Romanian branch, continuing to strengthen its presence as a primary bank account for its over 4.5 million clients in Romania. Gabriela Simion, the General Manager of RBUAB Vilnius Sucursala Bucure?ti, has recently stepped into a new ...
ASF Approves Remus Vulpescu to Lead Bucharest Stock Exchange
Monday, June 23, 2025
The Financial Supervisory Authority (ASF) has authorized Remus Vulpescu as general manager of the Romanian stock exchange operator, who will begin his mandate on July 1, 2025. In April, the Board of Directors of the Bucharest Stock Exchange appointed Dumitru-Remus Vulpescu as the company’s general manager, with a four-year mandate, although the stock exchange operator had launched a recruitment ...
One year of e-Invoicing (e-Factura) in Romania: 82% of companies adopted automation solutions
Monday, June 23, 2025
Profluo, a Romanian tech company specializing in AI-driven financial automation, launches the “One year of e-Invoicing in Romania” study, analyzing the business impact of the first year of mandatory electronic invoicing. The study reveals the top benefits companies have experienced: fewer invoice processing errors (36%), faster document processing (31%), and shorter financial reporting times ...
Launch of the International German-Romanian Desk, focusing on tax and legal services
Monday, June 23, 2025
Forvis Mazars, the international audit, tax and advisory services partnership, is pleased to announce the launch of its International German-Romanian Desk, an initiative aimed at addressing the demand for integrated cross-border tax and legal support between Germany and Romania. The Desk combines a highly qualified German team of lawyers with an interdisciplinary Romanian team of experts, including specialists in ...
Allianz-Tiriac takes over Allianz-Tiriac Unit’s portfolio
Monday, June 16, 2025
Allianz-Tiriac Asigurari received the necessary approvals from the Financial Supervisory Authority (ASF) for the transfer of its portfolio to Allianz-Tiriac Unit (formerly Gothaer Asigurari Reasigurari) in the context of the merger through absorption. The portfolio takeover and subsequent merger process represents the last stage of the Allianz-Tiriac Unit acquisition and is part of ...
The first Romanian delegation to close a trading session at the London Stock Exchange
Monday, June 16, 2025
The cohort of Romanian companies from the MoonShotX program, carried out by Raiffeisen Bank Romania in partnership with InnovX, took part in an event in London which marked a premiere – it was the first time a delegation from Romania closed a trading session at the London Stock Exchange. “This moment is proof that MoonShotX, the program through which we aimed to help local ...
Life insurance market up 16% in 2024
Monday, June 16, 2025
The life insurance market in Romania grew by 16% in 2024 compared to the previous year, with this type of insurance ranking among the top interests of Romanian consumers, according to an analysis by UNSAR released on Tuesday.Over 37,000 Romanians who saved and invested through life insurance policies received the benefits stipulated at policy maturity - the point at which the contract reaches its term."The fact that tens of thousands of Romanians ...
Mandatory private pension system generates 51.4 billion lei net gain in 17 years
Monday, June 16, 2025
Romania's mandatory private pension system, known as Pillar 2, has generated a net gain of 51.4 billion lei (approximately 10.1 billion euros) for Romanians in its first 17 years of effective operation, which marked its anniversary in May 2025, according to data from the Association for Privately Managed Pension Funds in Romania (APAPR).As of the end of May, the seven Pillar 2 private pension funds managed a total of 166.2 billion lei on behalf of 8.3 ...
Virgil Soncutean receives the fourth mandate at the helm of Allianz-Tiriac Asigurari
Monday, June 16, 2025
The Board of Directors of Allianz-Tiriac Asigurari has approved the extension of Virgil Soncutean’s term as General Manager of the company. The new mandate is pending approval from the Financial Supervisory Authority (FSA). „I am honored to continue this journey alongside Allianz-Tiriac’s team for a fourth mandate. I appreciate the Board of ...
BNR's Lazea: Investments in digitisation and cybersecurity are not just an option, they are a necessity
Monday, June 16, 2025
Digitisation, combined with education, plays a crucial role in strengthening financial stability and stimulating Romania's economic development. Investments in this process, as well as in cybersecurity, are not merely an option but a necessity, according to Chief Economist of the National Bank of Romania (BNR) Valentin Lazea."The National Bank of Romania recognises the vital importance of digitisation in transforming our economy and ensuring financial ...
Central bank official: Banking sector should avoid constantly relying on the state
Monday, June 16, 2025
Banking policies in Romania are somewhat more cautious than those in the European Union, and in the future it is very important for the banking sector to avoid falling into a "lazy banking" paradigm, that is constantly relying on the state, Deputy Director of the Financial Stability Department at the National Bank of Romania (BNR) Matei Kubinschi told a banking-focused event on last Monday."It's very clear that banking policies in Romania are somewhat more ...
Investments funds net assets down 0.9% in April
Monday, June 16, 2025
The net assets of the 247 open-end and closed-end funds, both local and foreign, went down 0.9% in April, reaching a level of 49.1 billion lei (9.9 billion euros), while net inflows for the month totaled 142 million lei (28.5 million euros), according to data provided by the Association of Fund Managers (AAF).The top 5 performing local open-end funds over the past 12 months recorded annual net returns between 7.8% and 15.7%; over a 36-month horizon, ...
Frames analysis: A financial agreement with the banks could help the State to avoid increasing taxes
Monday, June 2, 2025
Romania needs a special agreement with the mother banks of the financial institutions present in the country, similarly to the one signed at the previous economic crisis with the purpose of securing the Financing of the state in 2025 according to an analysis made by the consultancy company Frames.'A financial agreement of €8-10 billion would provide Romania with an absolutely essential 'breathing space' until the end of the year and ...
Loans to non-government sector, up 0.5% in April 2025
Monday, June 2, 2025
At end-April 2025, loans to non-government sector granted by credit institutions increased 0.5 percent (0.4 percent in real terms) from March 2025 to RON 425,484.7 million, the National Bank of Romania (BNR) informs in a press release.RON-denominated loans, representing 70.2 percent of total volume of loans to non-government sector, grew by 0.7 percent, whilst foreign currency-denominated loans, holding 29.8 percent of total loans to non-government sector, ...
Bank deposits of companies and households, up by 0.1% in April
Monday, June 2, 2025
Deposits of non-governmental resident clients increased, in April 2025, by 0.1% compared to the previous month, to the level of 629.532 billion RON, and compared to the same period of the previous year, they increased by 6.8% (1.8% in real terms), according to data published on Tuesday by the National Bank of Romania.Deposits in RON of companies and the population, with a share of 69.8% in total deposits of non-governmental clients, decreased ...
Survey: Four out of five Romanians consider payment security essential when shopping online
Monday, June 2, 2025
For 79% of Romanian consumers, security is the most important aspect related to payments when shopping online, and 90% of them would choose another payment method if it were more secure, shows the latest Visa study on e-commerce payments in Central and Eastern Europe (2025).According to a press release from the company, the fact that they are willing to try new payment solutions shows how important it is for Romanian consumers to be able to choose ...
EIB Lends €30M to Teknia to Boost R&D in Auto Industry including in Romania
Monday, June 2, 2025
The European Investment Bank (EIB) and Teknia have signed a loan worth €30 million to finance the company’s research and development activities, and measures to apply them in manufacturing of components for the automotive sector. Teknia is a Spanish company present in 13 countries specialised in the manufacture of metal and plastic components for mobility solutions using a wide range of ...
Bucharest region attracts over a third of mortgage loans granted in 2025
Monday, June 2, 2025
Bucharest – Ilfov region will attract over a third of the mortgage loans granted in 2025 in Romania, the mortgage market being set to exceed EUR 5 billion threshold, according to a report issued by online broker Ipotecare.ro and mortgage lending company SVN Credit Romania. In total, over 76,000 new mortgages loans for home deals could be granted in Romania this year, excluding refinancings, restructurings, ...
BT Leasing simplifies bill payments with Finqware technology: direct from your account, no cards or cash
Monday, June 2, 2025
BT Leasing and fintech Finqware announce a first among leasing companies in Romania: payment of leasing invoices directly from your bank ...